Three economists with an understanding of the industry say that construction has finally hit bottom across the board (retail, housing, office) and is poised to come back with double-digit growth in 2011.
Jeffrey Spivak gets the story for Urban Land Magazine, from a presentation by economists Kermit Baker, Kent Simonson, and Jim Haughey, all from Reed Construction Data. They report that 2011: "will be a growth year in single-family and multifamily housing, plus retail and hospital/laboratory commercial buildings, before construction spending takes off virtually across the board in 2012."
Haughey says that the economic climate is good, but developers have yet to act on the potential.
FULL STORY: 2011 Construction Outlook
Why Housing Costs More to Build in California Than in Texas
Hard costs like labor and materials combined with ‘soft’ costs such as permitting make building in the San Francisco Bay Area almost three times as costly as in Texas cities.
EPA Terminates $116 Million in Grants for Reducing Emissions from Construction Materials
C-MORE grants were earmarked for industry trade groups and universities.
How Might Tariffs and Deportations Affect Affordable Housing Development?
Many affordable housing developers worry Trump’s proposed taxes on imports and crackdown on immigration will be detrimental to the industry. Others hope deregulation reduces development costs enough to offset those effects. What’s the most likely outcome?
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Maui's Vacation Rental Debate Turns Ugly
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San Francisco Suspends Traffic Calming Amidst Record Deaths
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Amtrak Rolls Out New Orleans to Alabama “Mardi Gras” Train
The new service will operate morning and evening departures between Mobile and New Orleans.
The Subversive Car-Free Guide to Trump's Great American Road Trip
Car-free ways to access Chicagoland’s best tourist attractions.
San Antonio and Austin are Fusing Into one Massive Megaregion
The region spanning the two central Texas cities is growing fast, posing challenges for local infrastructure and water supplies.
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